BrazilMCB Group to establish Kenya office as local presence in East Africa
Mauritius-based financial advisory services firm MCB Group has made the decision to establish a presence in Kenya through the establishment of a new representative office in Nairobi. The new office will host a delegation of 16 people, including the CEO and Chairman of the Board.
The firm was founded in Port Louis nearly two centuries ago, and has evolved over the years from a solely banking institution into an advisory firm that offers financial services in a number of domains, including private banking and wealth management, as well as private equity.
The firm is based in Mauritius, and thus far has additional operations in Seychelles, Madagascar and the Maldives. Now, the firm is set to have a strong presence in the Kenyan market through its new office, which will offer a base from which to serve the broader region of East Africa as well.
Newfound political stability and the consequently low level of risk that has come with it has made the East African market a lucrative one for investment. Economies in the region are growing and diversifying, which creates a scenario that is conducive to the business for financial advisory firms.
Commenting on the firm’s entry into Kenya, CEO of MCB Alain Law Min said, “We want to position MCB Group as a strong and competitive regional financial hub, leveraging Mauritius as an international financial centre of repute and substance. We are keen in enriching the appeal and adaptability of our value proposition across markets and segments, whilst upholding organization-wide synergies and collaborative partnerships."
“We believe we can create and develop fruitful partnerships with the business community here. Whilst there is no immediate intention to open branches and banking halls in Kenya and East Africa, the Nairobi Rep office will enable MCB to better gauge the opportunities and develop strong relationships in this region. “
“Our presence has so far enabled us to forge partnerships with banks and corporates and hence develop our banking and non-banking product and services offers. In this respect, our Kenya rep office can be a doorway to Mauritius and MCB Group, and our array of products and services can be put to good use by Kenya corporates and banks as well,” he concluded.
